November 6, 2023/BudgIT Open Alliance, a coalition of civil society organizations working to improve openness and accountability in government, wishes to express deep concern and sadness over the recent passage of the N2.17 trillion supplementary budget by the National Assembly. The supplementary budget, which is usually intended to address urgent […]
Frauds & Scandals
SEC Charges President/CCO of Prophecy Asset Management Advisory Firm with Multi-Year Fraud
November 2, 2203/US SEC The Securities and Exchange Commission today charged John Hughes, president and chief compliance officer of registered investment adviser Prophecy Asset Management LP, for his involvement in a multi-year fraud that concealed losses of hundreds of millions of dollars from investors. Prophecy Asset Management advised multiple hedge […]
SEC Charges Royal Bank of Canada with Internal Accounting Controls Violations
November 2, 2023/US SEC The Securities and Exchange Commission today announced that Canada’s largest bank, Royal Bank of Canada, will pay a $6 million penalty to settle charges that it violated the books and records and internal accounting controls provisions of the securities laws relating to its accounting for its […]
